murphy's law7

Almost everyone has been predicting recession, recession, but for it to be a technical recession, even if your wallet is telling you, it
may be here already, there has to be two quarters of negatice growth and although there have been signs of a recession, the growth of the GDP has not been totally negative. The latest report on U. S. GDP for the third quarter was, a fall in growth to 0.3%. Sales for the holiday season, are expected to be low, so the fourth quarter GDP, will possibly be negative, and may indicate that the recession, talked about for so long, has finally materialized. The length and depth will depend on the consumer, who represent a very large part of the GDP, and the resulting policies put forth in the future.

Markets overseas are mixed, U. S. DOW futures are in low negative
territory, at the moment.

News reports, of those reviewing the electoral college map, have moved more states into the Obama column, giving Senator Obama, a total, if they hold, of 281 votes, you need 270 votes to win the presidency. Senator Obama would need to hold Pennsylvania, and take the red state of Virginia, to win. There are now about seven toss-up
states remaining, Obama is leading or tied, in four of those states.
In Arizona, Senator McCain's home state, McCain is leading by seven points in one poll. There is a move afoot, reportedly to pour more resources into the state, by the Obama campaign, which has prompted the McCain campaign to rev up the robo calls to the residents of Arizona. Whatever!

Senator Obama will reportedly meet with the automakers, he is mulling over the loan the companies are requesting. Wonder if it is without pre-conditions?

Exxon-Mobil reported third quarter revenue, of over $14 billion dollars.

American Express reportedly will cut 3,000 jobs in the near future.

The Bank of Japan lowered its interest rate to 0.3%. As a result, the Nikki fell on the news.

South Korea's stock market, the KOSPI, rose 19%, reportedly the most since at least 1987.

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Taking a chance requires courage, not taking a chance requires nothing, and will probably result in the same, nothing.

Overseas markets are up, Hong Kong and the Nikki are up a lot, the DOW futures are up over 200 points, at this time. We'll see what happens later today.

Fed Reserve Chairman Bernanke and the Fed approved and made a cut in the interest rate to 1.0%.

Former President Bill Clinton and Barack Obama campaigned in Kissimee, Florida together. Mr. Clinton said that Senator Obama's "do list" is a better do list. That Obama's health care plan is light years better than Senator McCain's. Earlier Senator Obama had an infomercial on five channels, part autobiography, part families testifying about their situations during the past few years. It was a very well produced advertisement. As usual it was tremendously uplifting, with Generals, Governors, and others praising Obama for his intelligence foresight, and judgment.

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Don't worry about tomorrow, deal first with today!

The religious community, is reportedly moving into the housing crisis, to encourage banking executives, to freeze the
foreclosure process, in the affected communities. Bank of America
announced that they would comply. Thank goodness for sensibility.

My thought would be, not that anyone is listening, but how about a freeze first, then take the appliciable mortgages, reappraise the homes under the current market value, rewrite the mortgage for those who can pay, let the bank take the hit for the difference, since the government is infusing capital, and allow the people to keep their homes. The financial institutions granted the faulty loans, the people were willing to undertake the mortgages, then the monthly cost exploded, now the bankds should, in my opinion, bear the blame and eat the loss, since they took the fees and points. The counties and cities will be more devastated going forward, if the foreclosures continue, so let's step up to the plate. Using that seven hundred billion dollars to purchase addition banks, is just more of the same, me first attitude.

Stocks are trying to make a comeback here and across the seas, news that the first infusion of cash into the banking system, took place on Monday, gave some investors a little relief. large gains in Asia and Europe, with the U.S. DOW gaining this morning. The DOW now at 200 plus points. We'll have to see where it ends.

Fed Chairman Bernanke, is expected to reduce the interest rate to
1.0%, not much room to go. The things already in place should start to kick in soon hopefully. But the cause of this problem is systemic, and it will take longer than some would like to see, for a fundamental change for the better, to gain a more solid footing for the global economy.

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Try to think two steps ahead of each decision.

This is pure speculation, but due to the fact that the only area, according to the polls, where McCain is superior to Obama, out of the economy, health care, jobs, education, and Iraq, is Iraq. So there is a report out that the U. S. has bombed an area on the Syria and Iraq border, and killed eight people including four children. There were Al Queda terrorists coming across the border. There also was a drone bombing on the Pakistan border as well. Would this be the Pentagon, trying to help MCain win an election, by playing on the fears of the American people as usual to try to manipulate and control, to shift another election to the GOP, by stirring up signs of trouble in the region, so that McCain who says he's been tested, will have some signs of life? Just wondering.

While Senator McCain was holding a rally in Ohio, the lights went out in the place were the rally was being held. There are sometimes symbols that show up. Like the time during the primaries, when Senator Clinton was cheering for the horse, running in a race against Big Brown, the horse ran so hard, it died on the track. Always wondered if Hillary, had not been cheering for the horse, would it have survived the race? Some symbols are hard to ignore, Senator Clinton went on to lose the primary.

Obama or McCain will reportedly, face more pressure in the transfer of power, than any time since FDR, due to all the apparent problems.

Another up and down day on Wall Street appears to be the tune of the day. Futures are down over night for the DOW, markets again in Asia and Europe are plunging. There may be another "limit down" occurence, as happened on Friday of last week.

The IMF is thinking about increasing the levels of borrowing it allows its members, to some 5X the limits allowed to deal with the current crisis.

The three Investment Banks still operating on Wall Street, have reportedly, set aside twenty billion dollars for executive bonuses.
Merrill Lynch will have $6.7 billion, Goldman Sachs, $6.8 billion dollars and Morgan Stanley will have $6.4 billion. Happy days.

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Stop every now and then, to help a friend, even if they don't need it.

Today in the U. S., the closest thing to a "Doomsday Scenerio", may take place. One word of caution, if you have not sold your stocks, you should just breathe deeply and close your eyes and ears. Overseas, Asia and European markets have fallen to their lowest levels in many, many years. The DOW futures markets are now frozen at 548 points, something called "limit down level" has been triggered. That means that the futures were frozen, so that everyone could take a breath and stop for a moment. A floor has been put under the futures, so that they will not go any further than 848 points down, until the makets open in the U. S. at 9:30 a.m., at this point the futures are indicating an opening on the DOW of some 500 points lower or more. It appears that this started with the Hedge funds, and Lehman Brothers, don't fully understand it so, will not try to give my take on it. Suffice it to stay, that an unraveling is taking place, which is causing forced selling, thereby taking the markets to unprecendented lows, with worries about a global recession being added in. Again, if you have not sold as of today, clench your teeth and don't. Analysts are predicting that the market is trying to reach a bottom, which may take place on Monday or Tuesday, they say, at that time, at these levels, buyers will start to come back, stocks are going to be dirt cheap, and it presents a rich envoirnment to buy, the markets should then start to rise. That is the best case scenerio, so instead of selling, you should then be buying. if you have the nerve. Hold steady! The boat is rocking, but it should not sink. These are the days momma may have talked about.

On the political front, Governor Sarah Palin, is moving off the ranch, it seems she has gotten tired of being bridled, and is giving interviews all over the place. It seems that she sees the hand writing on the wall, and thinks that Senator John McCain is going to lose, therefore, she wants to audition for 2012. It has been reported that she has been playing John McCain against the Republican base.
Senator McCain has decided that he has to dump President Bush if he is to win, he put out a message in a national paper, of all the things
that the President and his administration, have done in the past that took the United States to this place in time. The problem with this is that the Republican base love its leader, which would mean to me that McCain may just have lost a portion of its base, who may just stay home., on election day. Meanwhile Senator Obama's lead in the polls, is expanding not contracting. Senator Obama is telling his supporters, "remember New Hampshire", where he had a strong lead, and lost to Senator Clinton, during the Primary. In order to win, John McCain must win all of the toss-up states that are left, which is shrinking daily.

Senator Obama's grandmother, is reportedly very ill, and he has gone to Hawaii, to visit her. He will be back on the trail, on Saturday of this week, with at least three campaign stops. Governor Rendell of Pennsylvania, has requested that Senator Obama come back to his state. Senator McCain and Governor Palin are going to Pennsylvania
to try to take the state, as they think people in Pennsylvania have not been honest about who they will vote for. They are counting on the "Bradley Effect", to take place on election day.

General Motors and Chrysler are reportedly going to merge in a few
weeks, if a few details can be worked out.

Former Chairman Alan Greenspan, testified on Capitol Hill, about the sub-prime mortgage crisis, which then triggered the financial crisis, through the selling of securities based on mortgages tied to homes. which started to lose their values. He acknowledged some wrong on his part.

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As my sister says, "it always helps to have a plan B".

Well friends, this election is almost over, here in the United States,
seems like old times. There are people going into the polling place, and finding that, if they vote for one person, the other person gets
credit for the vote. The same thing that was going on in the 2004 election, vote for Kerry nad Bush gets credit. My belief is that
the election was stolen, sour grapes, may be, but the election is the place that our voices are supposed to be heard. My feeling is also that the reason this country, perhaps the world, is in the state that they are, is because the administration in power now, stole the last two general elections. So with almost eight years completed now, wars in two countries, one chosen, the other maybe necessary to find those responsible for 9/11, the financial markets in turmoil, the housing market just about demolished, with values still going down, credit markets trying to come out of a deep freeze, on the way we are to a recession if not worse. The message shuld be that elections surely matter. Nothing is more obvious than the outcome of the previous General Elections here. An administration, not concerned about law, the elimination of the writ of habeas corpus, maybe the Congress has reinstated the writ, not quite sure, most people did not even know that their right to be innocent, until proven guilty, was even in jeopardy, let alone being abolished. The fact that bills would be passed by Congress and the President would attach a signing statement, to in essence eliminate the core impact of the bill, to virtually eliminate the bill, Congress might just as well not passed the bill. There have been over 1,000 of such signing statements, under this President, would that not be subverting the Government? The deficit has rose to an unthinkable amount, the national debt is near eleven trillion dollars. At the end of the Clinton administration, the country had a surplus. The counrty is now a debtor nation, China and Japan hold the mortgage on the country, how would we call China into question over any acts of aggression towards Taiwan, when we are in their debt to the tune of gosh knows what. This has been an abysmal failure in leadership, to say the least. So, if this election is turned over to a warmonger, (bomb, bomb, bomb Iran) his words, which I feel aptly describes Senator McCain, who in his infinite wisdom, chose Gov. Sarah Palin, who had the required qualifications,(breasts and ovaries), to my mind, but who does not even know that the Vice-President does not "get in there with the Senators and work those bills, so as to get good things for the people", as she answered a third graders question during an interview. She does not even know that the two things a Vice-President is elected for, are to break a tie in the Senate, and to take over, should something happen to the President, not, as she has said, to be in charge of the Senate, with some imagined expansion of powers, even if the current Vice-President has been doing his own thing. This is more than scary, John McCain, should never, ever let the words, "country first", come out of his mouth. All women in this country should be insulted, about his selection of this very glamorous, very charming woman, who does not have a freaking clue, as to what she has been selected to do, should they be elected. America is at a crossroads, we will either arise from this stage or go into a third world status of dispair. There will be a recession, either short or longer, it depends on the measures undertaken to prevent a deep recession. We therefore will try to put on a happy face, but the election commission had better get it right, we would like to have the President, we voted for, not some half-baked straw man, with nine houses, and thirteen cars, only concentrating on the well to do in the country, a person who has a hard time saying middle class, as they are not who he is concerned with. He has ideas not shared by the majority of the people, and he wants to take the country down a worse path than we are traveling on at this moment in time. We will await the results, but from all polls taken, Senator Obama should be the next President, unless Senator McCain finds some way to again, along with the Republicans, steal another election. God cannot play another joke on this country. Please!

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Your good name is basically your gross worth.

Well, the overseas markets kicked in and went up, up, up, and then the U.S. markets decided to join in. It appears that the liquidity being pumped into the financial systems, is starting to work. Naturally when the markets go up, people want to take money off the table, so up and down we go. The U. S. is supposed to host a few summits, which really should include the two candidates running for president, as one of them will be inheriting this whole basket of goodies.

The U.S. Congress is contemplating a second stimulas package, boosted by Federal Reserve Chairman Bernanke's statement, that a simulas package could help the economy.

Senator Obama was endorsed by General Colin Powell on "Meet the Press" on Sunday. Many other Republicans are jumping ship and voting for Senator Obama, for various reasons. At this time, Senator Obama has 313 electoral votes in his corner, if all stays as it is, a candidate needs 270 votes to win the presidency. Various polls show
Mr. Obama leading Senator McCain, anywhere from 5 points to 13 points.

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Keep your head, even if you feel you are losing your mind.

At this time, it would do everyone well, to just breathe deeply and sit back, relax, and wait. Things will eventually turn around for the better on the stock market. Unless you have enough experience to do a bit of day trading, to take some money that you don't really need, look at the top price of a solid stock, a year ago, and buy it now when the market is way down, and as soon as it goes back up, sell, sell, sell. This is what a friend's daughter did last week and pulled in a bundle. This is going to take some time to settle down, so don't give yourself whiplash, trying to follow the ups and downs of a gyrating stock market, that is moving up and down on every little whimper from all kinds of places, inflation is tame, retail sales are down, Citigroup's third quarter was lower than anticipated. Watch a game show or something, drink some tea, unless you just can't stand it, then take your cash and run to the gold mines, or T-bills, or your safe deposit box, until the traffic clears up. We will get through this, one way or another.

To all those who are celebrating an October birthday, Happy, Happy,
to you and yours.

The Japanese Prime Minister, expressed his opinion about the financial crisis, and mortgage mess in the United States, saying in essence, that the seven hundred billion dollar bailout plan, was not enough to solve the problem. Hope no one pays any attention to him, or tommorow may be another down day on Wall street.

Secretary of the Treasury Paulson, apologized to the American people for the missteps made so far, and stated that they are on what they
think is the right path. Well if so, where is the liquidity that is supposed to go into the major banks? Stop the dilly dallying, before it really won't matter, because the DOW will be down to 2,000 points and we won't venture a guess, as to what will happen next.

Pity the next President, whoever he may be, with so many things on
his plate.

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Light, sometimes gets swallowed up by night.

The G-7 and G-15, International Groups met, and hammered out a plan, that was announced over the weekend. Basically that funds would be infused into the various markets, in one form or another, that being, some countries taking shares of stock in their banks, others having board participation as well, in some intances. But all trying to shore up the falling financial markets around the world, with cash infusions. The U. S. is reluctantly following the British model, as Secretary Paulson, expressed his feelings Tuesday morning. The U. S. stock market appeared to like what it heard, and rose over 900 points, to the largest one day gain ever. Other markets around the world followed suit, and it's off to the races. Some day traders are pocketing bundles, with the plunge downward and upward on the same day. But broadly, the concept of shoring up the markets with almost unlimited cash, is bringing some sense of confidence, in the markets. Then there's tomorrow. Hopefully there will be stability, in the near future. Then, work needs to be done to change the systemic problem, whatever it is, where entire financial markets come tumbling down, like dominoes, almost all over the world. It is not over yet, but a breather is certainly a good thing.

Shock of shocks, politically, Christopher Buckley apologized to his late father, William F. Buckley, and endorsed Senator Barack Obama, and of all people, Christopher Hitchens came out on the same day, with his endorsement of Obama. Three national polls have Obama at 11 points over Senator McCain. Senator McCain's supporters are quite upset with him, they seem to be pulling back daily, as they sense that he is not going to win the election, unless things change immediately. Senator McCain has said that he is "going to beat Obama's you know what" in the final debate Wednesday night, in New York. Wonder if he let Senator Obama know? Me, you never signal your moves in advance, quite an embarrassment, if you get your, "you know what" kicked instead.

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Life teaches you lessons, as long as you are able to learn.

There are meetings taking place to try to quench the financial fires, that are raging in many corners of the world at this moment in time.
In the United Staes, there was a meeting in Washington, which took place between the leaders of the G-7 countries, from which the Secretary of the Treasury came before the American people to announce that, the Government would be infusing liquity into the banking system, and taking stock as collateral,instead of receiving interest.
This is an effort to stem the freeze-up of lending between the banks, Also to allow banks to begin to lend to consumers. Why won't they just do it instead of talking about it? The longer this blockage is in place the more the stock market will gyrate, and the more days we will have like this past week. Then we get a news report that Ford, General Motors and Chrysler are facing possible bankruptcy. Two of them are in merger talks, it was also reported, General Motors and Chrysler. So next week we will possibly see more of the same roller coaster ride as the past week.

Someone made a point, when speaking about the financial crisis here in the United States, it was Oliver Stone, who was promoting
his new movie, W., that this crisis might be the answer, to creating a reason to end the perpetual warring. If there is no money to wage wars, perhaps that will be a good thing, no money no wars. We think
we would tend to agree.

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Boring is not a bad thing, especially if it is a smart thing.

Sometimes things go on, and people don't even notice. Maybe it's because, there are so many things going on around them, that it becomes very hard to discern what is the most important thing to concentrate on. The things that are happening lately, have made this person and I am sure many others, think that there is a unilateral shift happening in the world today, which may very well be so different than we are used to seeing, that we may be going through a major era of change, without even realizing what the change will be.
The loss of income by so many is prominent, but there is a larger picture developing. The markets around the world are trying to regain their footing, some markets are shuting down, Iceland, Russia and Indonesia for instance. Governments and agencies, around the country and the world, Central Banks, Finance Ministers, Presidents, Chancellors and Prime Ministers, are all involved in putting forth ideas and plans to seek to solve the mounting problems, that we all are facing. Pension funds in the United States have lost, two trillion dollars in the past fifteen months or so, this has affected
retirement savings and future living expenses of people, who are not in the position to wait,to regain that wealth, hopefully the market will regain the lost value, and hopefully those involved will be able to hang on until the turn around happens. But there is a greater
question, and it involves the system itself, there really needs to
be a better way to run countries, without the dependence on a gamble
with funds, where the belief that things will continue to be positive and bring sustainable rewards, to those who gamble in a legal way.
The thinking needs to be reversed and the fundamental changes need to be determined, and put into place, so that the futures of many businesses and people are not jeopardized by the imposition of decisions which are not based on sound thinking and without asking the question, what if? Calling all great thinking minds, we need innovation, now more than ever.

In an effort to calm the financial fears of the markets, the Federal Reserve is considering co-ordinating global rate cuts.

The Federal Reserve, invoking emergency powers, through a special unit, will purchase unsecured, short term debt. The Fed is hoping to ease the credit crunch by purchasing the commercial paper.

Wells Fargo has reportedly, shut down its issuance of CD's.

Depositors are finding better deals at smaller banks, as their rates are somewhat better.

Bank of America will slash its dividend by 50%, and will sell ten billion in stock to raise capital.

European Finance Ministers met in Luxembourg, to try to come up with a consensus, as to how to deal with the global credit problems, the one thing they had decided to do was to insure deposits up to fifty thousand euros, besides that, no other decision has been made jointly. President Bush has spoken with some of the leaders to discuss the sition. President Bush has reportedly said that an emergency G-8
meeting might be a good idea to consider.

The DOW is down 29.7%, since the beginning of the year.

Chairman of the Federal Reserve, Ben Bernanke addressed a conference, where he outlined what the Federal Reserve would be doing to control the credit crisis and inflation. All of the Fed's tools would be used to monitor and deal with the crisis. When he concluded the DOW
dropped to over 300 points.

With less that a month to go until the election in the United States, Senator Obama has increased his lead over Senator McCain, and is thought to be better at handling the economy, the housing crisis, the Wall Street crisis and the energy crisis, anywhere from 6 to 17, points over Senator McCain.

Old news: O.J. Simpson was found guilty on twelve counts, he will
face possible life in prison, when sentenced.

More old but important news: China sent two astronaunts into space
for a spacewalk, for the first time in China's history.

Saturday Night Live will begin having specials, on Thursday night in prime time, from now until the election in November. The ratings for the regular show have increased this season.

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Happiness can be contagious.

Friday's passage, of the Emergency Economic Stabilization Plan of 2008, by the U. S. House of Representatives, has not quelled the worries of the markets, that it will prevent a slowdown in the economy. Businesses, small and large, and individuals are already feeling the pain of the credit freeze.
Overnight the DOW futures were at 269 points down, S & P futures down 33, Nasdaq futures down 44 points.
Actual overseas markets, Nikki down 465 points, Hang Seng down 878,
FTSE down 243 points, DAX down 311. This could be a very black Monday,
perhaps the U. S. markets will be up, by the end of the day, with
bargain hunters, but intraday trading looks very dreadful, based on the futures markets. On the positive side, it is a very good time to purchase a few, possibly fundamentally good companies, but homework and due diligence should be applied. Confidence is slipping away,
and something is needed to done to stabilize the markets, even a psychological boost, would be helpful at this point.

Wells Fargo and Citigroup will be in court, to settle their differences over the purchase of Wachovia, as a judge temporarily
halted the purchase by Wells Fargo, of the company. Reports are that Wachovia may be split up, between the two banks. Northeast and Mid-Atlantic operations to one, Southeast and California to the other.

There is an expectation that, at least one-hundred banks may fail in the U. S. in the next 12 months.

Countrywide has settled a consumer fraud lawsuit, for 8.4 billion.
Countrywide is now a part of Bank of America. This lawsuit reportedly will save thousands of homeowners, in various points of possible foreclosure. The suit affects 11 states in the U. S., and will probably be joined by more states. Some of the homeowners will have their interest rates cut and some will have their principles reduced.
The program will not start until December.

The Dutch Government will take over the Dutch portion of Fortis Bank,
which is suffering the same fate as many other banks around the globe. The cost is reportedly twenty-three, point two billion dollars.

HSBC is benefiting from new depositors coming from other distressed banks.

Oil has fallen below $90.00, who would ever believe it? Demand has fallen off in U. S. and overseas, some say this is accounting for the falling prices.

Twenty-nine states out of fifty, in the U. S. are suffering from budgetary problems.

Senator Joe Biden's mother-in-law, passed away, after a long illness.
Wishing his family and friends, peace in their time of grief.

Russia is reportedly dismanteling, its check points in Georgia, the deadline, is the end of this week.

Secretary Rice has sent her Deputy to Iraq, reportedly to negotiate the withdrawal of the troops.

King Abdullah of Saudi Arabia, held a meeting between the leaders of the Taliban and the Iraqi Government, in September, in Mecca. It is reported that the meeting took two years to pull together.
No information as to what transpired. The top leader of the Taliban was not present.

The second presidential debate between Senator Obama and Senator McCain, will take place in Nashville, Tennessee, on Tuesday evening, at 9:00 p.m. est.

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Growth, is a matter of learning from experiences.

Such a long time coming,
But, well worth the wait,
Such a long time running,
But, so worth the trip.
Such a long time standing.
But, now time to sit.
Such a long time speaking,
Hoping, some listening takes place.
Such a long time looking,
Hoping to see the very best.
Long time coming,
But so well worth the wait.
10.04.08
hlm

The Emergency Economic Stablization Bill of 2008, was passsed by the House of Representatives today. This bill may not be enough to stop what is coming. The process is going to take some time, and the things that may happen in between then and now, may be very painful.
The warning came a bit too late, in my estimation, and the next President of the United States, will be so caught up in the righting of the ship, that not much else will be able to be done. Besides the two wars that are being waged. This is the time of great novels, as the breath and depth of this monster, called credit crisis, is dealt
with.

California's Governor has just announced that his state needs seven billion dollars, in less than a month or Government workers, teachers, and others paid by the state, may not be paid. On the other coast, New York's Governor Paterson, is purposing to lease the state's assets, in order to increase revenue. Florida is also having financial problems.

Wells Fargo is being challenged by Citigroup, for making an offer to Wachovia, which was accepted, when Citigroup thought it had an exclusive verbal offer. Wells Fargo said it had a signed offer of
acceptance. Citigroup is looking into what its legal rights would be.
Rock, paper, scissors.

The SEC's ban on short selling of stocks, reportedly will expire on October 8.

According to Goldman Sachs, the U. S. recession will be significantly
deeper.

U. S. job loss totaled 159,000 in September.

The lights on Broadway were dimmed tonight, in honor of Paul Newman.

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Cherish your friends, always.

A lot of people, will be watching Washington today, to see if
the U. S. House of Representatives, will hold their collective noses, take the plunge and vote for the massive eight-hundred and ten billion dollar, rescue plan. The vote in the House is supposed to take place around twelve o'clock today. The pork loaded bill, was adjusted to try to bring on board those reluctant members who refused to vote for the first bill. The financial button pushers on Wall Street will be watching as well. Tick, tick, tick.

The DOW lost 348 points, based on worries about the passage of the bill and broader economy issues.

The problem with the passage of this bill is that, this will not completely solve the problem. It is just the beginning, the structure problem in the system needs to be addressed. Hopefully, someone or
more, will take the bull by the horns and put forth a solution,
which will give some hope to those who have lost trust in just about everything, their President, the Congress and Senate, the financial system, and more.

Just reported, Wachovia will be purchased by Wells Fargo, in an all stock buy, of fifteen point, nine billion dollars. Citigroup got bumped by Wells Fargo, when Wachovia's Board of Directors approved the sale to Wells Fargo.

The "Great Debate', betwen Governor Sarah Palin and Senator Joe Biden, occurred on Thursday night at 9:00 p.m. est, at Washington University, in St. Louis, Missouri. The much anticipated possible
collapse of Governor Palin did not occur, neither did Senator Biden
insert his foot in his mouth, and put out a gaffe, that would be played over and over again on the networks stations. Both comported themselves well, with Governor Palin doing enough to silence those critics who expected her to ramble and talk incessantly without saying much of anything. Me? Still not interested in a Miss Alaska runner-up, winker, with cutsie quips, being the keeper of the keys for nuclear weapons, should she need to be, especially with a seventy-two year old person, with four bouts of cancer in the past, at the head of the ticket. She, from her answer, as to which Vice-President she admired, said George H. W. Bush, because he went on to be President after learning at the feet of the President. Some assume that this means she has aspirations, of becoming President someday, should John McCain win in November, don't really think that will happen, but that does not mean, that she, if that is what she aspires too, will give up her dream. Let's see if the fact that the Alaskan judge's decision to allow the case to go forward, into whether or not she abused her powers as Governor, will make any difference. Innocent until proven guilty, right, oh yes forgot for a moment, the current administration negated that little law didn't they? So the debate is over, we go back to where we were, with an economic mess, the country looking for a leader to take over, and save the ship.

Senator John McCain's campaign, announced that they would be leaving the battleground state of Michigan, taking down advertising, stopping mailings, pulling out staff and virtually conceding the stae to Senator Barack Obama, due to cash concerns.

Toyota is to offer free financing, for the first time in the United States, on the purchase of it's automobiles.

Warren Buffett told Charlie Rose on PBS, that he thinks we are in an Econmic Pearl Harbor condition.

AIG has reportedly is selling, its "extordinary businesses", to help the company pay off its debt.

U. S. Corporate Bond sales reportedly, have dropped to $1.25 billion dollars, as the credit crisis deepens.

The crash site of adventurer, Steve Fossett's plane, was found in the Eastern mountains of California. They are still looking for human remains, for DNA testing to determine if Mr. Fossett, died in the crash.

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No news, is not always good news, best to buffer yourself, if you can.

Congratulations to the U. S. Senate, for picking up the ball, which was dropped by the House of Representatives, on Monday of this week.
The DOW dropped on Monday, 777 points as a result. To try to restore some confidence, that the bill would ultimently pass, the Senate added more sweetners to the bill, in the form of one-hundred billion dollars, for tax breaks for individuals and businesses. The U. S. deficit will balloon, to six-hundred billion dollars, the largest deficit, probably in U. S. history. But who's counting, more importantly, at the moment, is that the "rescue bill" be passed to stop a complete meltdown in the credit market. The bill was passed in the Senate 74-25. Businesses are starting to feel the pinch, AT&T is having a problem with it's cash flow, other signs are showing up over the country. This is not a chicken little cry, it is very real. The House will be back in session Thursday, citizens who understand the gravity of the situation are starting to call their Representatives, to urge them to pass the bill. Especially those
older people, who are seeing their savings and pensions, effectively being wiped out, by the losses on Wall Street. Older people don't have time to wait for the markets to recoup massive losses, they need their income to survive. All eyes will now be on the House of Representatives, which will begin to debate and discuss the bill passed by the Senate. The onus appears to now be on Senator Barack Obama, to make sure the Democrats show up at the table and vote for this bill, in the form it is in, or close to it, so that liquidity can be restored to the financial institutions, so that credit lines, and loans are available to customers, small and large businesses. High noon will be Friday afternoon, around 3:00 p.m., before the stock market closes. Should the House not pass the bill by then, it is quite possible, the DOW will test the 777 point level, that it fell on Monday. At this moment there is a slightly positive feeling, on Wall Street, that the bill will pass in the House, but arguing and wanting additional funding for some inconsequential pet what ever, will create another confidence killer, and we head to never, never land. Let's all hope that mature heads will prevail, for the sake of the country. On Monday, the vote in the House failed by a count of 12 Representatives. Surely twelve more people will be found, somewhere on the floor of the House?

Former President Bill Clinton, held rallies in Florida, today on behalf of Senator Obama. Many people showed up, and Mr. Clinton
detailed why Senator Obams would be better for the country, as only he can.

In the states which have early voting, it is reported that Senator Obama is preferred, at this stage. He is also leading in eight or nine crucial states. It is starting to feel like it did in the Primary, where the Obama team wrapped up the votes in February, and Senator Clinton's team could not catch him. People around Senator McCain are advising him to go very negative, problem with that scenerio, is that when you do that in a campaign, which they have been doing, your negative rating goes up. The people are then left with the choice of a very beaten down candidate who still wins, or a very nasty looking opponent who loses. The only thing Obama can do, is to fight back and fight back hard. My prediction, very early in this campaign, not that anyone would be interested ), is that it will be a landslide, in Obama's favor. Senator McCain represents the status quo, and that is not the flavor of the month, so we will see, there are still a few weeks to go. Senator McCain could find himself another war, to put his commander-in-chief of wars uniform, back on the front burner.

Billy Joel and Bruce Springsteen, will be giving a concert together, in New York, on October 16, for Senator Obama, ticket price will be ten-thousnad dollars a pop. I'll be watching, for the tape of the show on television, after it's over, if it airs.

Diplomatic Envoy, Christopher Hill, has travelled to North Korea, to see if he can get the officials there, to discontinue their effort to restart the process of making nuclear energy, as they had promised in an earlier agreement, the North Koreans said that the U. S. officials, did not keep their word to take their country off the "countries who support terrorist list", well?

Oil slipped to $98.53, a barrel, on news that there was a jump in U. S. stockpiles.

Governor Sarah Palin and Senator Joe Biden, will debate on Thursday evening at Washington University. This will be their first and only debate. Conservative commentors, like Michael Murphy, David Brooks, David Frum, Kathleen Parker and others, have written, that Governor Palin is not qualified, not ready to step in to be President, and for the good of the country, should go home to Alaska and tend to her children. She has made many statement that leave one to wonder? One was made during the Katie Couric interview, shown in three parts, where Ms. Couric asked her what newspapers she had read, prior to being selected as John McCain's running mate. She wouldn't or couldn't or didn't want to tell Ms. Couric. What she said was "lot's of them, everyone that was in front of her", now does she read or did she get brain freeze, who knows. Ms.Couric also asked her, what other Supreme Court decision, did she disagree with, besides Roe v Wade? Again, she would not say, or could not, she repeated Roe v Wade, and
talked about states' rights. Alaska was involved in the Exxon Valdaz court case, right? She reminds one, very much of another incurious individual, who had only travelled to Mexico, before he took over the presidency, Lord spare me, please. Senator McCain spent part of his day, defending her, at the Des Moines Register in Iowa, being very defensive, and saying that he very much disagreed with their assessment, that she did not have the experience to be Vice-President, that the American people thought she did have enough experience. Now either he has been sleepwalking, or he is not in touch with reality, some fifty-one per-cent of the people, if you believe the polls, think she is not experienced enough, to take over, if the need arose, to be President. She does, she said to that question once, think that she is ready, willing and able to be Vice-President. Does anyone have a copy of the Peter Principle handy? If Governor Palin does not perform up to a certain standard tommorow evening, Senator McCain's legacy will be that, his most important decision, once he became the nominee of his party, was to go off willy-nilly, and choose someone, who was lovely to look at, with a charming personality and whatever other attributes she possesses, but with no logical interest or working knowledge of the legal aspects of the country, she would be running, or the other foreign affairs aspects, at a bare minimum, needed to stand on the stage with other world leaders and be counted legitimate enough, to be there, to represent the United States at any given time. This is truly a sad situation, the Republicans, someone said,believe that John McCain is going to lose, and before he goes down to defeat, they want him to know exactly what they really feel about his choice for Vice-President, and why Governaor Palin, may be one of the reasons why he lost the presidential race.

New York Mayor Bloomberg is going to try to change the city's charter,
so that he can continue as Mayor, I guess he likes the position. If I were a betting person, I'd bet he gets it changed. For sure he is saving the city money, he only gets $1.00 for his salary per year, for that alone, thay should change the charter, yes?

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Enlightenment comes in many forms.